Environmentalists concern with rapid economic growth is that it will
A. lead to increases in pollution, crowding, and waste disposal.
B. turn naturalists into capitalists.
C. prevent society from taking action to clean up excessive pollution.
D. underutilize natural resources.
Answer: A
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Refer to the table above. If imports falls to $45,000 in the next year, ________, all other variables remaining unchanged
A) gross domestic product will fall by $5,000 B) gross domestic product will fall by $ 10,000 C) gross domestic product will increase by $5,000 D) gross domestic product will increase by $ 10,000
A strength of the market economy is that:
a. it results in an equal distribution of wealth. b. resources are used efficiently. c. planners rather than consumers determine answers to the basic economic questions. d. information for production and distribution decisions passes directly from the government to buyers.
Economics is the study of the efficient use of scarce resources to achieve maximum satisfaction of economic wants.
Answer the following statement true (T) or false (F)
Suppose that Kansas farmers can grow wheat more cheaply than can Texas farmers. In the interest of efficiency, what is the desirable outcome?
A. Pass a law in Kansas mandating a minimum price for wheat equal to what is charged by Texas farmers. B. Allow the Kansas farmers to sell their wheat for a lower price. C. Pass a law in Texas mandating a maximum price for wheat equal to what is charged by Kansas farmers. D. Have Texas residents boycott Kansas wheat.